Senegal’s first IPP solar power project wins funding

Construction financing has been finalized for Senegal‘s first independent power producer (IPP) solar photovoltaic (PV) plant, lender Green Africa Power announced this week.

A €20m ($22m) loan has been agreed for the 20 MW Senergy 2 PV plant in Bokhol in Senegal’s northern region. Construction has begun, and the plant is expected to come online in the fourth quarter of this year.

The plant’s power will be sold to Senegal’s national power company Senelec through a power purchase agreement (PPA).

The plant is being developed by GreenWish Partners, an investment firm specializing in renewable power generation projects in sub-Saharan Africa. The firm said it aims to develop 600 MW in on- and off-grid renewable power for national utilities and commercial and industrial offtakers throughout the region.

Once completed, Senergy 2 is expected to generate power for around 160,000 households.

Senegal’s current installed generation capacity stands at 860 MW.

GreenWish Partners president Charlotte Aubin Kalaidjian said: “The electricity generated by Senergy 2 will be both environmentally friendly and competitive, with a cost per kWh 50 per cent below the current cost of the energy mix.”

She added that the loan “will mean construction can continue through to operation”.à‚ 

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